Block chain how to open up a new situation for small businesses

Block chain how to open up a new situation for small businesses

Businesses of all sizes are felt from innovation and cost reduction pressure, but large institutions worried about digital transformation and as small and medium enterprises. Funded large participants can spend more on technology upgrades, don’t worry about the small obstacles.

No more professional eye can see innovation brought to the size of the competitive advantage of enterprises. But small and medium-sized enterprises want to catch up with competitors and maintain growth, the innovation must consume fewer resources.

According to the SAP sponsored IDC survey, innovation and growth relationship between small and medium enterprises closely, of which 40% enterprises will be the rapid growth of innovation as a top priority. Block chain innovative technology can bring great change to this kind of enterprise.

Block chain has become the mainstream

The blockchain is sharing in a distributed network of digital records or books. The transaction information to “block” in the form of a connected chain block. The network is verified after each account, and the user in accordance with the safety operation parameter setting and verification algorithm.

The blockchain users can safely access to digital books information, does not require a central monitoring. So rapidly from small technology development trend for mainstream applications.

1, patients can share personal electronic medical records and medical researchers or companies, and control of the shared time, such as during treatment or during the trial. The patient can also share medical information encryption and a plurality of medical service providers do not have to worry about privacy issues.

2, transport and logistics, where participants can share the risk, routes, weather and traffic information based on block type chain in the insurance market, insurance coverage to each other.

Part of the ownership of 3, consumers can use unmanned vehicle driving block chain management.

4, voters can vote via the intelligent mobile phone, tablet computer, immediately obtain verifiable results.

The significance of the block chain for small and medium sized enterprises

Block chain provides built-in trust mechanism as well as the final transaction process. The transaction can be performed automatically and confirmation, but takes a few seconds or minutes, reduce the cost and improve the efficiency.

Once the blockchain record books data blocks, it is extremely difficult to modify or delete. When someone wants to add data, network participants will run the algorithm, assessment and verification of the transaction.

It provides more transparent, accurate tracking, permanent and safe books chain block. Eliminates the middleman involved in the transaction, such as banks and other financial service providers, they usually charge expensive international service.

To reduce the cost of cross-border

Block chain can bring positive change in cross-border business in small and medium enterprises, the high cost of replacing international wire transfer. Use block chain to avoid large banks or foreign suppliers can rapidly increase the efficiency.

Currency exchange can occur in real time, eliminate the agent swap process, does not require any fee to exchange and deposit, and quickly into the accounts receivable. Last summer to Canada Germany international remittance block chain $1000, 20 seconds to complete the original need two to six days of trading.

Block chain is still emerging technology, many research and development center in the exploration and application of new technology potential. But early signs, get the block chain help small and medium enterprises can better grasp of their financial independence, everything has just begun.

We have not entered the blockchain era, but we are approaching. Since 2009 there has been a long development, the technology innovation of small and medium enterprises in the chain of a ring.

Leave a Reply

Your email address will not be published. Required fields are marked *